NOMAD Power Solutions (NMAD) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing cancer therapies, primarily targeting protein phosphatase 2A inhibitors to enhance the efficacy of existing cancer treatments.

• Lead compound LB-100 is in clinical trials for ovarian clear cell carcinoma, metastatic MSS colon cancer, and advanced soft tissue sarcoma, with additional preclinical evidence in other cancers.

• Operates with minimal overhead, raising funds at key milestones, and aims for strategic partnerships or licensing agreements with major pharmaceutical companies.

• Holds a robust patent portfolio covering composition, synthesis, and use of LB-100, with exclusive licenses from NIH and joint filings with research collaborators.

Financial performance and metrics

• No revenue-generating operations to date; relies on equity capital infusions and stock-based compensation.

• Net losses of $5.1 million in 2023 and $6.3 million in 2022; $2.0 million net loss for the first half of 2024.

• As of June 30, 2024, cash balance was $2.6 million, with stockholders' equity at $2.25 million.

• Auditor's report includes a going concern warning due to recurring losses and negative cash flows.

Use of proceeds and capital allocation

• Estimated net proceeds of $3.5 million (assuming full subscription) to be used for working capital and general corporate purposes.

• No specific allocation percentages disclosed; management retains discretion over use of funds.

• Proceeds may be significantly less if fewer units are sold, potentially impacting ability to fund operations and regain Nasdaq compliance.